I did see an MLS listing for one at $19,900! Ouch! That would have to be a great buy and the current developer seems to be stable and maintain the area. They like many are holding to see what happens.
Eden's Landing?
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That would be the one that led us to this thread. Is Artisan Two, LLC, the current developer, and/or the investor that Buster mentioned?
I am sure it is the original Developers. Artisan Two. What a great buy. It seems the bank is declaring a bottom. Buy it and build!
Lot is pending! Great buy!
Someone got a deal!
Someone got a deal!
Jiminy Cricket what a deal!
These lots are 2,668 square feet. That makes this lot about $340K/acre. That seems a little steep.
What would be a good price in your eyes based on your calculations for that lot.
Does this mean that we should sell lots now based on acre price?
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It is a small lot, you must agree. I know that people look at $$/SF when looking at a home, it only makes sense that the size of the lot would have an impact on how much of a value a lot is at a given price.
True. But, that may be why it sold for $19,900. Hard to compare a typical lot to acreage pricing. I see where you are heading and good point but kind of not comparing apples to apples.
Back in the day I was involved in a transaction in Seagrove with 5 acres for 15 million. 3 million an acre. So today $340K an acre is looking good. I have rarely seen a buyer ask me how much that lot is per acre unless I am showing property/acreage in rural areas. $19,900 is a good buy for a lot that you can build one house on in Pt. Washington. The fact it is pending tells me so.
"Small" lots are common in that type of development. It looks like it will be a nice neighborhood with great amenities in a great location. The lot prices seem to be a rather good deal compared to similar subdivisions in South Walton.